Expected to come in force by the 2018 year-end, the visa rule changes will also allow foreign firms to own 100 per cent of their business
The Hush Post: The Indians living in the United Arab Emirates (UAE) are likely to be benefitted as the Middle Eastern country is planning radical changes in its visa rules.
The country has announced that it will grant 10-year visas for specialists working in fields such as medicine, science and research, among others, a report said.
The move is expected to attract talent to the United Arab Emirates. Foreign students will also be able to avail a 5-year visa while ‘exceptional’ graduates can secure a 10-year visa, the report suggests. Right now, students are required to apply for a renewal of their visa every year, the report said.
These new visa rules were announced on Sunday by the UAE. The new rules mention that the 10-year visas will be extended to the families of the specialists as well, it was reported.
The Middle Eastern country is also planning to allow foreign firms to own 100 per cent of their business. Currently, foreign companies are required to have an Emirati partner to hold a majority stake, unless the business is based in a free trade zone, the report said.
The new rules are expected to benefit several Indian businesses and entrepreneurs, who may be facing challenges in the UAE at the moment. Most shops and restaurants are outside free trade zones and require a local partner to operate in the country, it was reported.
The report said that the Indians will be significant beneficiaries of the new policy. As many as 2.8 million Indians live in the Gulf country, forming the largest expatriate community there. Of the total, 15-20 per cent are professionally qualified personnel. Another 20 per cent have white-collar non-professional jobs, while the remaining 65 per cent are blue-collar workers. The changes are likely to take effect by the end of this year, the report said.